India likely to keep April-Sept borrowing under 60% of FY24 goal, sources say

The Indian government's borrowing for April-September is likely to be between 55% and 58% of its gross borrowing target for next fiscal year, two government officials said on Wednesday, to front-load expenditure and keep bond supply closer to market expectations.

India aims to raise 15.43 trillion rupees ($187.18 billion) from the market in the financial year starting April 1, higher than the 14.21 trillion rupees it raised this year.

"The government is planning to keep its borro ..

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The officials did not want to be named as they are not authorised to speak to the media. A finance ministry spokesperson did not immediately reply to a Reuters email seeking comment.

The government borrowed 58% of its full-year target in the first half of this financial year.

However, market participants want that to be reduced to 55% of this year's target, with a higher share of longer-tenor paper, given the sizeable maturities due i ..
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